Introduction
At its core, a blockchain is a database that stores information in blocks that are chained together chronologically. It’s designed to be decentralized, tamper-resistant, and transparent — ideal for recording digital transactions.
How It Works
When a transaction occurs, it’s verified by a network of nodes and grouped into a block. Once the block is full, it’s added to the existing chain of blocks. This process ensures that data can’t be altered retroactively without altering all subsequent blocks.
Key Concepts
- Decentralization: No single point of control or failure.
- Immutability: Once recorded, data cannot be changed.
- Consensus Mechanisms: Methods like Proof of Work or Proof of Stake ensure agreement across nodes.
Real-World Use Cases
Blockchain isn’t limited to cryptocurrencies. It’s being used in supply chains, voting systems, healthcare, and more — wherever secure, transparent data is needed.
Conclusion
Blockchain is more than a buzzword. It’s a foundational technology for trustless systems in finance and beyond.